The United States believes there needs to be a channel to carry out payments under the Russian oil price cap scheme, the Assistant Treasury Secretary for Terrorist Financing and Financial Crimes told a Senate hearing on Wednesday, when asked about the possibility of imposing full-blocking sanctions on Gazprombank
WASHINGTON (Pakistan Point News / Sputnik - 28th September, 2022) The United States believes there needs to be a channel to carry out payments under the Russian oil price cap scheme, the Assistant Treasury Secretary for Terrorist Financing and Financial Crimes told a Senate hearing on Wednesday, when asked about the possibility of imposing full-blocking sanctions on Gazprombank.
"Of course, you're familiar and have noted that we have taken sanctions, full-blocking sanctions on a variety of Russian banks including imposing financial restrictions on all of its 10 largest banks," Elizabeth Rosenberg said.
"One key to the price cap policy, which as you know, seeks to continue to have Russian oil flow but at lowered prices at depressed prices - that requires the ability for purchasers to pay for that oil at depressed prices, which means that there must be some controlled channels in order to continue to pay for that," she continued. "I cannot in this context forecast what sanctions the United States Treasury may bring forward."
